IFC–Scaling Microfinance in Africa: AB Microfinance Bank Nigeria (ABN)
2012-12-31 - 2015-11-30
ABN intends to implement a comprehensive mobile banking solution that comprises money transfers through mobile phones, corporate pay (national money remittances between bank accounts), debit cards and web payments at a large scale. By this, customers will be able to:
Transfer money from their ABN accounts to any other bank account or e-wallet and vice versa using their mobile phone.
Take advantage of a corporate pay tool that would make it possible to transfer directly from an ABN bank account to multiple or single commercial bank accounts or e-wallets.
Use debit cards with transaction verification at ABN account rather than correspondent bank.
ABN intends to connect to the eTranzact switching platform or a comparable organization to enable these interbank electronic payment transactions
Project Manager (15 months): Managing the project during the conception, development and roll out phases
Feasibility study (assessing regulatory environment, demand and competitor study, research on available technologies in the country, product design, implementation planning, business planning, liaising with all stakeholders and funders)
Interface Development (5 months): IT Software development expert is responsible to integrate the IT/MIS system of ABN with the eTranzact software through an ISO bridge and develop the interface.
Project Review Manager (1 month): Review project set up and product development.